QVT Financial Raises Its Stake in China Zenix Auto International Ltd (ZX)

According to a new filing with the Securities and Exchange Commission, Daniel Gold’s fund, QVT Financial, boosted its stake in China Zenix Auto International Ltd (NYSE:ZX), to 24.3 million shares, from 14.2 million shares held previously. The fund now owns 11.8% of the company’s ordinary shares.

China Zenix Auto International Ltd (NYSE:ZX) manufactures commercial vehicle wheels. It designs, manufactures and sells steel wheels that are used by most types of commercial vehicles. The company has a market capitalization of $150.8 million.

According to a press release, the company today appointed Jones Day, a global law firm, as its new corporate counsel. Early this month, the company appointed Martin Cheung as its CFO. Cheung , who previously served as CFO of Profound Heavy Company Limited, was appointed to replace Yifan Li, who resigned last month due to personal reasons.

Chuck Royce’s Royce & Associates, is another hedge fund that is bullish on the shares, holding 50,000 shares worth $130,000 of China Zenix Auto International Ltd (NYSE:ZX). Renaissance Technologies, managed by Jim Simons, also owns 16,721 shares, valued at $43,000.

QVT Financial has $4 billion in assets under management, and employs “fundamental and quantitatively-oriented trading strategies”. The fund has 3.9% of its equity portfolio invested in Tenet Healthcare Corp (NYSE:THC) a health care services company, in which it holds 1.6 million shares worth $66.2 million. Next on the list of QVT’s largest equity holdings is Halozyme Therapeutics, Inc. (NASDAQ:HALO), a biopharmaceutical company, with a stake of 4.2 million shares. On the third spot is VIVUS, Inc. (NASDAQ:VVUS), of which the fund holds 6.5 million shares with a reported value of $59.2 million. In the fourth quarter of 2013, QVT Financial added 276,900 shares of Lumber Liquidators Holdings Inc (NYSE:LL) and 835,543 shares of Navigator Holdings Ltd (NYSE:NVGS) to its equity portfolio.

Disclosure: none

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